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Greece rejects Eurogroup text, saying cannot accept bailout extension

A Greek government official said that a draft text presented to euro zone finance ministers meeting in Brussels on Monday spoke of Greece extending its current bailout package and as such was "unreasonable" and would not be accepted.

Without specifying who put forward the text to the meeting chaired by Dutch Finance Minister Jeroen Dijsselbloem, the official said: "Some people's insistence on the Greek government implementing the bailout is unreasonable and cannot be accepted.

"Those who keep returning to this issue are wasting their time. Under such circumstances, there cannot be a deal today."